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Peter Davis

An writer at FOMOdrive

  • Dec 28, 2023
  • 3 min read

Bitcoin: Bitfinex warned of an upcoming correction

In 2024, Anthony Scaramucci is confident that Bitcoin will surpass the $69,000 mark.

It is possible that Ethereum could surpass Bitcoin in terms of growth by 2024.

In approximately three weeks, XRP may begin to increase in value.

MicroStrategy invested an additional $615 million in bitcoins.

Cryptocurrencies have been referred to by Russians as a "bad New Year's gift".

Anthony Scaramucci, founder of SkyBridge Capital, anticipates that Bitcoin will experience further growth in the coming year and reach unprecedented heights.

Raoul Pal, CEO of Real Vision TV, is of the opinion that Ethereum will experience more growth than Bitcoin in the coming year, even with the introduction of Bitcoin ETFs.

Bitfinex believes that Bitcoin may experience a correction during the New Year holiday, as a result of reduced liquidity caused by short-term investors selling off their holdings.

Between November 30 and December 26, MicroStrategy purchased an additional 14,620 Bitcoin at an average cost of $42,110. This brings their total amount of Bitcoin to 189,150, which was purchased for a total of $5.9 billion - an average price per coin of $31,168.

Cathie Wood, CEO of ARK Invest, expressed confidence that the BTC bull rally will continue into 2024, citing the SEC's improved depth of knowledge and understanding of the cryptocurrency industry as increasing the chances of speedy approval of spot Bitcoin ETFs.

According to venture capitalist Nick Carter and BitMEX experts, the SEC's requirement for potential spot Bitcoin ETFs regarding the form of issue and redemption will make these products less effective. This is evidenced by the updated application of Grayscale Investments, which includes a clause on the repurchase of the underlying asset and the redemption of fund shares only in cash instead of in kind - unlike all existing commodity spot ETFs, which operate on an in-kind model.

An additional 1 billion USDT stablecoins have been minted on the Ethereum network by Tether. Paolo Ardoino, the CEO of the company, stated that this was an authorized transaction, but not yet released. These new "stable coins" are intended to be used as reserves for future requests and network swaps.

Ben Armstrong, a well-known crypto blogger, has advised traders to capitalize on the current rate of XRP coin as it is expected to increase in approximately three weeks.

The price of the Telcoin (TEL) token dropped drastically by over 40% after a mistake was found in connection with the wallet's implementation on the Polygon network. According to PeckShield, the attacker was able to take out $1.3 million from the affected accounts.

An exploit was discovered on the decentralized trading platform Thunder Terminal, resulting in the withdrawal of 86.5 ETH (~$190,000) by the attacker.

A survey conducted by Grechka Media and A2 Research revealed that Russians consider cryptocurrencies and NFTs to be some of the worst gifts for the New Year.

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